Boeing (NYSE:BA) Earns “Outperform” Rating from Royal Bank of Canada

Boeing (NYSE:BA)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $200.00 price target on the aircraft producer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 29.54% from the company’s previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein decreased their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. DZ Bank cut shares of Boeing from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, October 15th. TD Cowen decreased their price target on shares of Boeing from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, The Goldman Sachs Group decreased their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $191.79.

Boeing Stock Performance

BA stock traded down $2.67 during mid-day trading on Thursday, hitting $154.39. 6,305,192 shares of the company were exchanged, compared to its average volume of 8,111,818. The firm has a market cap of $94.78 billion, a P/E ratio of -43.49 and a beta of 1.57. The firm’s 50 day simple moving average is $160.61 and its 200 day simple moving average is $172.01. Boeing has a 1-year low of $146.02 and a 1-year high of $267.54.

Boeing (NYSE:BA) last announced its earnings results on Wednesday, October 23rd. The aircraft producer reported ($10.44) EPS for the quarter, missing the consensus estimate of ($4.85) by ($5.59). The business had revenue of $17.84 billion for the quarter, compared to analysts’ expectations of $17.81 billion. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($3.26) EPS. On average, equities research analysts predict that Boeing will post -5.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Boeing

Hedge funds and other institutional investors have recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in shares of Boeing during the second quarter worth $34,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Boeing by 451.4% during the first quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock worth $37,000 after buying an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Boeing during the second quarter worth $33,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Boeing by 351.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock worth $39,000 after buying an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Boeing during the second quarter worth $39,000. Institutional investors and hedge funds own 64.82% of the company’s stock.

About Boeing

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.